{"id":12867,"date":"2021-05-03T09:00:00","date_gmt":"2021-05-03T16:00:00","guid":{"rendered":"https:\/\/www.roomvu.com\/academy\/?p=12867"},"modified":"2021-05-03T09:13:38","modified_gmt":"2021-05-03T16:13:38","slug":"toronto-luxury-home-market-on-fire","status":"publish","type":"post","link":"https:\/\/www.roomvu.com\/academy\/toronto-luxury-home-market-on-fire\/","title":{"rendered":"Toronto Luxury Home Market on Fire"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"178\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Check out my latest video Toronto luxury home market on fire; Condo sales surge\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/2I5WSivkMSo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"has-drop-cap\">Just like any other sector in the Canadian housing market, the luxury home market is on fire. Over the first 2 months of 2021 sales of luxury homes worth $4 million or more has increased by over 150%. Among these sales, we can see five homes sold for more than $10 million. This can have many reasons but some experts believe this might be because of low inventory in lower price range homes.&nbsp;<\/p>\n\n\n\n<p>Renters are the main group of people who have experienced job losses facing harder times to make ends meet and keep up with expenses like rents. On the other hand, higher-paid professionals who had the opportunity to work from home and keep their jobs now are taking advantage of lower mortgage rates to buy even bigger homes especially large detached homes.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.roomvu.com\" target=\"_blank\" rel=\"roomvu.com noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"178\" src=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg\" alt=\"\" class=\"wp-image-12734\" srcset=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1024x178.jpg 1024w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-300x52.jpg 300w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-768x133.jpg 768w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1536x266.jpg 1536w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-scaled.jpg 2048w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-1250x217.jpg 1250w, https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/04\/Banner-400x69.jpg 400w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>On the other hand, sales for other price ranges have also increased about 52%. Condo sales in Toronto are on the rise and Benjamin Tal, CIBC Capital Markets deputy chief economist believes this will continue for a while. Condos are more affordable and buyers are taking advantage of low mortgage rates to buy a home while they can.&nbsp;<\/p>\n\n\n\n<p>However, Canada Mortgage and Housing Corp. are warning that these prices are pretty vulnerable and might experience a sharp drop. However, due to the high interest, high-net-worth are showing to come and live in Canada due to its stable environment, Kottick of Sotheby\u2019s believes the luxury market is going to remain strong.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just like any other sector in the Canadian housing market, the luxury home market is on fire. Over the first 2 months of 2021 sales of luxury homes worth $4 million or more has increased by over 150%. Among these sales, we can see five homes sold for more than $10 million. This can have &hellip;<\/p>\n","protected":false},"author":45,"featured_media":12873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[917],"tags":[],"class_list":["post-12867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Toronto Luxury Home Market on Fire - roomvu Academy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roomvu.com\/academy\/toronto-luxury-home-market-on-fire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Toronto Luxury Home Market on Fire\" \/>\n<meta property=\"og:description\" content=\"Just like any other sector in the Canadian housing market, the luxury home market is on fire. Over the first 2 months of 2021 sales of luxury homes worth $4 million or more has increased by over 150%. Among these sales, we can see five homes sold for more than $10 million. This can have &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.roomvu.com\/academy\/toronto-luxury-home-market-on-fire\/\" \/>\n<meta property=\"og:site_name\" content=\"roomvu Academy\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/roomvu\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-03T16:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-03T16:13:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.roomvu.com\/academy\/wp-content\/uploads\/2021\/05\/Toronto-Luxury-Home-Market-on-Fire.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"723\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"roomvu Academy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"roomvu Academy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Toronto Luxury Home Market on Fire - roomvu Academy","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roomvu.com\/academy\/toronto-luxury-home-market-on-fire\/","og_locale":"en_US","og_type":"article","og_title":"Toronto Luxury Home Market on Fire","og_description":"Just like any other sector in the Canadian housing market, the luxury home market is on fire. 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